Unveiling of JN Bank Half Way Tree Branch on February 1, 2017
As The Jamaica National Group marks its 149th-year anniversary on August 13, the occasion not only signifies the organisation’s rich heritage, but also underscores its unwavering commitment to its members and its profound impact on society, through housing finance, small business financing, remittances, technology, international business and social engagements.
Since its establishment in 1874 as the Westmoreland Building Society, The Jamaica National Group has emerged as a beacon of trust and reliability in the financial landscape, becoming one of the Caribbean’s largest conglomerates with an international network spanning the United States of America, the United Kingdom, Canada, and the Cayman Islands.
At the core of The Jamaica National Group’s success is its dedication to helping people find a way. Through visionary leadership and strategic mergers, the Group has evolved and expanded, encompassing several member companies, including JN Bank and its Small Business division, JN Fund Managers, JN Money Services, MC Systems, Jamaica Automobile Association and JN Properties. These companies collectively offer unparalleled services in banking and finance, general insurance, information technology solutions, property management, and automobile services.
Earl Jarrett, the CEO of The Jamaica National Group, expressed the organisation’s promise to enable Jamaicans to improve their quality of life and achieve their financial aspirations. He credited the remarkable journey of success to the passionate employees, loyal customers, and trusted partners who have contributed to the Group’s enduring legacy.
“The Jamaica National Group’s success extends beyond business performance, highlighting the countless stories of individuals, families, and businesses that have been supported and uplifted by the organisation. The 149th anniversary provides an opportunity to reflect on the profound impact the Group has had on the lives of countless individuals,” Mr Jarrett emphasised.
Throughout its rich history, The Jamaica National Group has celebrated numerous achievements and firsts, such as being the first mutually-owned commercial bank in Jamaica and the only ISO 9001:2015 certified financial institution in the country. Additionally, the groundbreaking JN Bank UK became the first Caribbean bank licensed to operate in the UK, further solidifying the Group’s reputation as an innovative industry leader.
MC Systems, a pioneer in leading edge technology solutions, was the first to launch smart automated teller machines (ATMs) with the capability of identifying counterfeit notes, updating accounts immediately and depositing cash without the need of an ATM card. It was also the first company to introduce an internet-based money transfer financial system and the award-winning BizPay Central, the first payroll service of its type in Jamaica. Furthermore, in 2021, MC Systems acquired Phoenix International, a world-leading core banking platform, to enhance their suite of financial services in the Caribbean, Latin America and Africa.
Community Empowerment
Beyond financial services, The Jamaica National Group has remained deeply committed to social responsibility. The establishment of the JN Foundation in 1990 has been instrumental in addressing developmental needs in areas such as water resources, road safety, advocacy, the environment, education, and financial literacy. The JN Foundation, in collaboration with the United States Agency for International Development, launched the Social Enterprise Boost Initiative (SEBI) to facilitate the growth of the social enterprise sector. It also established The Source centres in five communities across the island to provide business and social services as well as embarked on a road safety campaign, ‘X Marks the Spot’ in partnership with the United Nations Children’s Fund (UNICEF) to protect children from death and injury on the roads.
The launch of JN Circle in 2019 further strengthened the Group’s philanthropic work, fostering a network of JN members collaborating to improve lives and communities. This initiative has since expanded to 18 chapters across Jamaica, the UK, and Canada, amplifying the impact of community-driven initiatives.
As the Jamaica National Group looks forward to celebrating its milestone 150th anniversary in 2024, it remains steadfast in its commitment to enriching lives and building communities.
“We envision a tomorrow where our services continue to evolve, empowering individuals and businesses to thrive in an ever-changing world. We remain committed to fostering a future that is built on sustainability, digitalisation, and putting our people first,” said Mr Jarrett.
The CEO pointed out that The Group is focused on various initiatives to strengthen its core for the future, including enhanced credit approval processes, the ONE JN Passport customer relationship management portal, delivering premium experiences to members, investing in communities through the JN Foundation and further developing the JN Circle network.
